Record number of new home completions this year will bring more listings to the market…National Bank of Canada Study says home appreciation will slow as new construction provides consumers with more choice…36,000 condominiums under construction for Toronto alone…
(Source: The Toronto Star)
Home price appreciation will slow in the Toronto market this year as a looming supply of new homes is completed, giving consumers more choice and helping to mitigate future gains, a bank study said.
“The stock of new construction is rising and that will have the effect of slowing any price increases,” National Bank of Canada senior economist Marc Pinsonneault said Tuesday.
Read the full article, “Ready for less heady home pricing?” in the Toronto Star (Jan 27, 2010).